Oil and gas majors are putting billions of dollars into the energy transition, yet significant investment gap remains, says a report commissioned by law firm CMS. The CMS report revealed that the world’s top 15 oil and gas majors are currently investing 3% of capex budgets into renewables, with wind and solar the most popular renewables technologies among majors. A rapid energy transition could see US $209 Bn invested by the sampled companies by 2030, noted CMS.
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